Software provider expands risk management offerings for multifamily owners
(April 16, 2007) – RealPage, Inc., a leading provider of on-demand software and services to the multifamily industry, today announced the acquisition of Multifamily Internet Ventures, LLC, the Irvine, California-based parent company of LeasingDesk Insurance ServicesTM.
LeasingDesk, the largest provider of resident insurance programs for the multifamily industry, is now a wholly owned subsidiary of RealPage. Dirk Wakeham, president and CEO, will continue to manage day-to-day operations, and current employees and sales professionals will remain with the company.
“This strategic acquisition strengthens RealPage’s robust risk management solution and provides multifamily owners with the most comprehensive platform for managing their businesses effectively and profitably,” said Steve Winn, CEO of RealPage. “As the industry continues the widespread adoption of full-participation renter’s insurance, our ability to seamlessly offer, verify and maintain insurance coverage as an extension of OneSite© is a win-win situation for both owners and residents.”
“We are delighted to join the RealPage family, which gives us a much broader sales and marketing footprint to communicate the benefits of risk management and ultimately grow the business,” said Wakeham. “The integration of our multifamily insurance products into OneSite will provide a higher level of protection built directly into the leasing process and complement RealPage’s existing business model.”
Currently, the LeasingDesk product line includes eRenterPlanSM, a liability policy that protects owners against financial loss due to damages caused by residents, or an enhanced version of the product that includes renter’s insurance, providing additional coverage for personal belongings in the event of loss. The company also offers DepositFreeSM, an alternative security deposit product that reduces an owner’s exposure to risk by ensuring a resident’s financial responsibilities through the use of a surety bond.
RealPage’s licensed insurance agents will be able to offer new residents these products as an integral part of the OneSite leasing process. With this addition, multifamily owners will be able to utilize one software solution to screen applicants, generate lease documents and addenda with digital signatures, sign up for renter’s insurance and/or deposit surety bonds, manage automated payment processing and store all data in a document repository for electronic retrieval anytime, anywhere. The company will also offer a stand-alone leasing platform that will allow the integration of these products with other popular property management software systems to deliver all the same benefits.
To schedule an interview with Steve Winn, CEO of RealPage, or Dirk Wakeham of LeasingDesk Insurance Services, please contact e-mail: andrea.massey@realpage.com or (972) 820-3150.
About RealPage
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides products and services to more than 20,000 apartment communities across the United States. Its four on-demand product lines include OneSite© property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, and student housing properties; CrossFire© property marketing systems that help boost occupancy and build retention; M/PF YieldStarTM asset optimization systems that maximize asset valuation and investment return through revenue management and market intelligence; and VelocityTM utility and billing services that help accelerate payments for resident charges. For more information, please call 1-87-REALPAGE.
About LeasingDesk
LeasingDesk Insurance Services is the leading provider of risk management solutions specifically designed for the multi-housing industry. LeasingDesk’s flagship offering, eRenterPlan, offers owners affordable and easy-to-implement renter’s and liability insurance products that increase profitability by eliminating exposure from resident negligence. LeasingDesk also offers DepositFree, an alternative security deposit solution that utilizes a surety bond to guarantee a resident’s financial obligation in accordance with the lease agreement. For more information regarding LeasingDesk’s risk management solutions, visit www.leasingdesk.com or contact (888) 484-7132 or e-mail: sales@leasingdesk.com
| Contact: | Andrea Massey RealPage, Inc. 4000 International Parkway Carrollton, Texas 75007 (972) 820-3150 e-mail: andrea.massey@realpage.com |
Dirk Wakeham LeasingDesk Insurance Services 9 Executive Circle, Suite 200 Irvine, CA 92614 (949) 809-7005 |